Profitable Contracting
This six-hour course will help contractors develop strategies to reduce costs, control expenses and improve cash flow. It will help with recognizing problem projects, identify unwanted expenses, increase productivity and manage overhead expenses.
Description
In our highly competitive construction industry, managers and owners, regardless of the size of their companies, need to be well-qualified generalists able to juggle multiple tasks. The successes of their company will be attributed to operations and financial management. While operations management holds immense influence in how companies can improve performance and their profitability, good financial management can help improve performance by providing the necessary funds and reports for operations, growth, cost controls and profit improvements.
This course discusses effective cost controls, labour productivity and recognition of high overhead costs, profits, cash flow headaches and timely reports.
Cash is the engine that drives all companies whereas financial reporting is the critical element in measuring success. This course offers construction management professionals an extensive understanding of construction and financial management by bridging the gap between construction processes and accounting reports.
LEARNING OUTCOMES
- 10 basic requirements to earn and sustain profits
- Best methods to increase profits and cash flow
- Construction industry risks, common problems, bid errors
- Skilled labour shortages – the causes and long-term solutions
- Identifying costs and solutions of lost productivity
- Proven, effective employee practices to increase productivity.
- PMs role, ultimate goals, project evaluations
- Forecasting revenue to ensure profit goals are achieved
- Safeguarding company assets
- Forecasting company and project cash flows
- Controlling and/or reducing overhead costs
- Benefiting from financial reports to deliver better results
- Creating measurable goals with consistent performance reports
- Creating a strong financial awareness in all personnel who attend
Intended Audience
- Project managers, Project coordinators, Estimators
- HR Staff, Warehouse Managers, Department Heads
- Gold Seal Candidates, Senior Managers, Owners
- Controllers, Accountants, Administrators
- All individuals who can drive project and company profitability
Speaker
Wayne Newell
For over 35 years Wayne provided financial leadership to companies throughout Canada, the United States and the Caribbean. Now retired, he was formerly a designated CMA (Certified Management Accountant). As your course developer and instructor, he has a deep background of experience in accounting - specifically in the area of construction contracting – and is enthusiastic about passing on his industry knowledge and insight.
During his seminars he discusses specific techniques; methods and strategies that help contracting companies increase profits, control costs and improve cash flows. In the past twenty years Wayne has presented his exclusive Construction Management Courses to over 3,500 construction professionals from St. John’s to Victoria.
Related Info
Webcams and a computer/laptop are mandatory. This course involves on-screen interaction with your instructor and classmates, reading/viewing on-screen content like slides or videos, and interacting via typing with questions or responses. For this reason, cell-phones or tablets may not be adequate.
Access information and the course manual will be provided to you by your association via email in advance of the training.